We are delighted to announce that InvestAcc will be joining the Origo Options Transfer Service from Monday 23rd July 2018
This will allow potentially much faster transfers between pension plans using this service. The average Options transfer is around 8 working days and in some cases transfers may be much quicker, with the fastest ever transfer completed in less than 1 hour!
InvestAcc will facilitate pension to pension cash transfers (receiving and ceding) and pension to annuity cash transfers (ceding) for all our SIPP members. Note that SSAS schemes cannot currently use this service.
We have already updated our SIPP transfer forms to include Origo Options’ required standard questions and declarations. With effect from 23rd July we will use Origo Options for new transfer requests provided the forms are the new versions, otherwise customers can choose to either complete a new form or have their transfers processed in the traditional way.
Note that availability of the Origo Options Transfer Service requires both transferring and receiving schemes and plans to be included in the service. It is not currently available for transfers from most occupational pension schemes or any defined benefit schemes.
For details of the Origo Options Transfer Service and the firms which are part of it, please visit the dedicated site: https://www.origo.com/services/OptionsTransfers/Option_Transfers.aspx
July 18th, 2018
The Minerva SIPP can invest in a wider range of assets including commercial property and land, on an individual or group basis. Any combination of permitted investments may be made within a Minerva SIPP including deposit accounts, DFM, open market platform/wrap accounts, stockbroker accounts and trustee investment plans, all held together within the same SIPP.
SIPP Lite is a lower cost option, for those that do not require multiple investment accounts, or access to commercial property and land at outset. SIPP Lite members are restricted to a maximum of one investment account, to run alongside the default SIPP bank account. This investment account could be another bank account or ONE of the following: stockbroker account, DFM, open market platform/wrap account or a trustee investment plan. For individuals that require additional investments at a later date, including commercial property and land, they can upgrade their SIPP Lite plan to a Minerva SIPP.
A Small Self-Administered Scheme (SSAS) is a type of UK registered pension scheme. Each SSAS is governed by its own trust deed and rules and is a separate legal entity to the sponsoring employer. The sponsoring employer establishes the SSAS and invites members to join. Any individual employed by the sponsoring employer (or a participating employer) may join the scheme and all members are appointed as trustees alongside the professional trustee. SSAS trustees have a very wide range of investment options, including the ability to make secured loans to the sponsoring employer of up to 50% of the net asset value of the scheme, subject to certain conditions.
We have been operating in these markets for over 20 years. The SSAS business was formed in 1997, and in 2003 we launched our flagship product, the Minerva SIPP. The range is completed by SIPP Lite, which has been available since July 2012.
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